RIL's current investment cycle less aggressive, says Morgan Stanley

Brokerage says this will reduce the cost of the company's equity, raises price target on stock to Rs 3,085

Global brokerage house Morgan Stanley has described Reliance Industries’ (RIL’s) current investment cycle as less aggressive, saying it will reduce the cost of the company’s equity.

In a report released on Monday, the brokerage has raised its price target on the stock to Rs 3,085, from the earlier target of Rs 3,015, saying the firm is its top pick.

The RIL stock closed trade at Rs 2,570.25 apiece on Monday, up 1.6 per cent over Friday’s close on the BSE. The stock was up 2 per cent in intraday trade, following release of the report. 

“Lower competition in telecommunications (telecom)